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£36bn of government-backed loans will be toxic


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I am shocked! Shocked I tell you.

 

You know when you get to near the end of a video game and you blow all the fancy items you saved during the beginning and middle, just because?

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6 minutes ago, Locke said:

I am shocked! Shocked I tell you.

 

You know when you get to near the end of a video game and you blow all the fancy items you saved during the beginning and middle, just because?

Wow. I normally get 75-90% of the way through before realising I'm wildly out of my depth and have having to go back and grind out resources for a few days so I can scrape through the last 10% of the game. That's a fairly apt metaphor for my life right there actually.... 

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8 minutes ago, MARTINX9 said:

Who says the banks are overprotected!

It seems moral hazard is the only disease little people don't manage to get. I think Banks are definitely the culprit here. They were tasked to give the money, no question asked. Not really the one getting bailed out here.

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3 minutes ago, Freki said:

It seems moral hazard is the only disease little people don't manage to get. I think Banks are definitely the culprit here. They were tasked to give the money, no question asked. Not really the one getting bailed out here.

And there was me thinking you would comment on my knowledge of Britney songs.

Still it seems Rishi was born to make us happy. 

He is always so upbeat when doling out the cash - lets see how he reacts when the cuts start and the redundancies begin.

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Take furlough.

Paid till August (then contribution)

Then hospitality (millions and millions of workers) are told umm arr maybe possibly you might be open 4th July but with mmm arrhh maybe rules that means its a waste of time.

So in essence no business no contribution = no job.  So all that money delaying the inevitable.

Not to mention all the employers who wont be paying anything back as they all throw in the towel.

The redundancy processes are starting now I am going to give it until two weeks before 4th July before I start at my business.

Ironically when i applied for a COVID loan I could not borrow much as I had some cash, lean operation and no loans....So I imagine that the more screwed you are the bigger loan you had in many cases.

The poor lads who fix the equipment and supply hospitality are truly desperate I get offers 30% + discounts but whats the point of servicing some items (that do not need safety services) if they are off now when you can get it done say a few weeks before you open.  They would often be self employed and charge over 40 £ per hour + call out before COVID.  They probably have bounce-back and self employed loans etc etc.

 

 

Edited by Fromage Frais
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  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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